IMF chief warns of global 'sub-par growth' in coming years

The head of the International Monetary Fund (IMF) has warned the global economy could be heading towards years of 'sub-par growth'.

Christine Lagarde warned that 'brave action' was needed or else the world could fall into a 'low growth trap'.

According to the BBC, Lagarde said the global economy would grow by more than three percent in 2014 and 2015, but that market volatility and tensions in Ukraine posed risks.

Lagarde also said more action was needed to tackle low inflation in the eurozone, calling on the European Central Bank (ECB) to pursue 'more monetary easing, including through unconventional measures,' the report said.

She also called on governments to reform labour markets to encourage job creation, and for more public investment such as transport and communications networks in rich and emerging countries, it added.